6/28/2023 0 Comments 4 impacts of globalization![]() ![]() We mean that the whole of the world is increasingly behaving as though it were a part of a single market, with interdependent production, consuming similar goods, and responding to the same impulses. It is the world economy which we think of as being globalized. I will conclude by considering what policy reactions seem to be called for. The bulk of my paper is devoted to discussing what we know, and what we do not know, about its consequences. I shall then go on to consider what has caused it. ![]() Let me nonetheless outline briefly what I understand by the term. Globalization has become a familiar enough word, the meaning of which has been discussed by others before me during this conference. ![]()
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